Clearwater Estate Planning Lawyer
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About Chapter 7 Bankruptcy

Liquidation Under Chapter 7

If you are overwhelmed with debt and unable to find a way out, the best solution to end your financial woes might be to file for bankruptcy. For some, Chapter 7 will provide the truest and most comprehensive sense of relief. Under the protection of Chapter 7 bankruptcy, debtors will be provided with the opportunity to rid themselves of the majority of their debts and start over with a clean slate. Debtors who wish to utilize this form of debt relief should enlist the help and guidance of a Clearwater bankruptcy attorney, as there are many aspects to the process that need to be followed closely in order for the process to be completed adequately.

The first and most important step in your filing process will be taking the "means test" to establish that you are truly eligible for the process. Your attorney will analyze this for you to determine if you are entitled to declare bankruptcy under Chapter 7 in the state of Florida. Once this has been done, the debtor can file a petition in the bankruptcy court. The court will also require information regarding your assets, liabilities, expenditures, financial affairs, current income, leases (that have not been expired), and contracts. Tax returns filed during the current year will also need to be provided when filing. Once the filing process has been put under way, an automatic "stay" (aka: stop) will be put into effect for the actions taken by collection agencies and creditors that may have been harassing you for unpaid debts.

Filing for Chapter 7 Bankruptcy in Clearwater

The most effective way to file for Chapter 7 bankruptcy is with the help of a legal professional. In this way, you can ensure that you are completing each step of the process with as much as accuracy and attention to detail as is needed to successfully file your petition in Court. You are not expected to have the knowledge to complete these legal requirements all on your own, and it is recommended that you take the necessary steps to carry out the procedures under the guidance of a professional attorney who has the skills you need to successfully begin and complete the process.

During the processes involved in a Chapter 7 filing, you can expect there to be a meeting of the creditors. This usually takes place sometime around 20 to 40 days after the petition has been filed. Both debtor and trustee will meet at this time and exchange information under oath. During this time and throughout the rest of your case, you should be represented by a professional in order to ensure that the process is completed legally. I will provide you with the personalized attention you deserve in what may be a stressful time in your life and my goal is to afford you with any and all financial relief available under the bankruptcy laws to make sure that your needs are met. Call today for a free consultation.

The Mercury Insurance Building, 1901 Ulmerton Road, Suite 400, Clearwater, FL 33762

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Address: The Mercury Insurance Building, 1901 Ulmerton Road, Suite 435, Clearwater, FL 33762 Phone: (727) 424-2279